US Senate approves deal on 'fiscal cliff' crisis
- Published: 1 Jan 2013 at 16.16
- Online news:
Washington - The White House and top Republicans struck a dramatic deal to avert huge New Year tax hikes and postpone automatic spending cuts that had threatened to send the US economy into recession.
After months of agonising over the crisis, weeks of debate about a possible solution, and days of intense, closed-door negotiations, members of the US Senate voted overwhelmingly 89-8 early Tuesday to pass a controversial bill that averts the so-called "fiscal cliff".
It now goes to the House of Representatives, which could hold a vote on the measure later New Year's Day.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.